ARMEDELLE: what changed
ARMEDELLE
Largest movements
- Receivables within one year -€220,899
down €220,899 (-31.4%), from €703,136 to €482,237
of which Trade receivables: -€361,962
- Cash +€38,363
up €38,363 (+606%), from €6,334 to €44,697
mainly Receivables within one year (+€220,899) and Depreciation (+€10,843)
- Tangible fixed assets -€10,843
down €10,843 (-8.3%), from €130,692 to €119,849
of which Land and buildings: -€10,483
- Debts after one year -€152,351
down €152,351 (-65.7%), from €231,715 to €79,364
- Profit (loss) carried forward -€17,287
down €17,287 (-22.4%), from €77,130 to €59,843
- Tax, wage and social debts -€16,125
no longer reported in 2025 (was €16,125)
- Gross operating margin -€58,784
down €58,784 (-97.8%), from €60,109 to €1,325
- Taxes -€20,176
no longer reported in 2025 (was €20,176)
- Depreciation -€3,134
down €3,134 (-22.4%), from €13,977 to €10,843
- Other operating charges +€2,274
up €2,274 (+53.9%), from €4,219 to €6,493
- Financial charges +€1,207
up €1,207 (+1,749%), from €69 to €1,276
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €874,676 | €681,269 | -€193,407 | -22.1% |
| Fixed assets | 21/28 | €164,782 | €153,940 | -€10,843 | -6.6% |
| Tangible fixed assets | 22/27 | €130,692 | €119,849 | -€10,843 | -8.3% |
| Land and buildings | 22 | €129,252 | €118,769 | -€10,483 | -8.1% |
| Plant, machinery and equipment | 23 | €1,440 | €1,080 | -€360 | -25.0% |
| Financial fixed assets | 28 | €34,090 | €34,090 | = | 0.0% |
| Current assets | 29/58 | €709,894 | €527,329 | -€182,565 | -25.7% |
| Amounts receivable within one year | 40/41 | €703,136 | €482,237 | -€220,899 | -31.4% |
| Trade receivables | 40 | €508,136 | €146,174 | -€361,962 | -71.2% |
| Other amounts receivable | 41 | €195,000 | €336,063 | +€141,063 | +72.3% |
| Cash at bank and in hand | 54/58 | €6,334 | €44,697 | +€38,363 | +606% |
| Deferred charges and accrued income | 490/1 | €424 | €395 | -€29 | -6.8% |
| Total equity and liabilities | 10/49 | €874,676 | €681,269 | -€193,407 | -22.1% |
| Equity | 10/15 | €599,367 | €574,873 | -€24,494 | -4.1% |
| Contributions | 10/11 | €450,686 | €443,479 | -€7,207 | -1.6% |
| Reserves | 13 | €71,551 | €71,551 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,555 | €13,555 | = | 0.0% |
| Distributable reserves | 133 | €56,136 | €56,136 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,130 | €59,843 | -€17,287 | -22.4% |
| Amounts payable | 17/49 | €275,309 | €106,396 | -€168,913 | -61.4% |
| Amounts payable after more than one year | 17 | €231,715 | €79,364 | -€152,351 | -65.7% |
| Other amounts payable | 178/9 | €231,715 | €79,364 | -€152,351 | -65.7% |
| Amounts payable within one year | 42/48 | €43,594 | €27,032 | -€16,562 | -38.0% |
| Trade debts | 44 | €27,469 | €27,032 | -€437 | -1.6% |
| Suppliers | 440/4 | €27,469 | €27,032 | -€437 | -1.6% |
| Taxes, remuneration and social security | 45 | €16,125 | - | -€16,125 | |
| Taxes | 450/3 | €16,125 | - | -€16,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,977 | €10,843 | -€3,134 | -22.4% |
| Other operating charges | 640/8 | €4,219 | €6,493 | +€2,274 | +53.9% |
| Gross operating margin | 9900 | €60,109 | €1,325 | -€58,784 | -97.8% |
| Operating profit (loss) | 9901 | €41,913 | -€16,011 | -€57,924 | |
| Financial charges | 65/66B | €69 | €1,276 | +€1,207 | +1,749% |
| Recurring financial charges | 65 | €69 | €1,276 | +€1,207 | +1,749% |
| Profit (loss) for the period before taxes | 9903 | €41,844 | -€17,287 | -€59,131 | |
| Income taxes | 67/77 | €20,176 | - | -€20,176 | |
| Profit (loss) for the period | 9904 | €21,668 | -€17,287 | -€38,955 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,668 | -€17,287 | -€38,955 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.